So, as the frequency increases the reactance of a capacitor decreases, and the vice-versa.

What does that mean exactly? I know that frequency represents how many times an event happens over time. So am i getting this right?

The reason that as the frequency increases the reactivity of a capacitor decreases is because a capacitor depends on time to charge up, and since there are so many events happening in such a short amount of time, the capacitor never really charges fully and thus only exhibits a small amount of reactance (in ohms)